A Study on Regulatory and Industrial Policies for the Industrial Paradigm Change

Snagkyu Lee ()
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Snagkyu Lee: Korea Institute for Industrial Economics and Trade, Postal: Sejong National Research Complex, Korea Institute for Industrial Economics and Trade, 370 Sicheong Dae-ro C-dong 8-12F 30147, Republic of Korea, http://www.kiet.re.kr

No 00/0, Occasional Papers from Korea Institute for Industrial Economics and Trade

Abstract: This paper suggests an integrated and comprehensive industrial policy framework reflecting various regulatory and industrial policy issues including new industrial paradigm shift such as the 4th Industrial Revolution. The industrial policy framework should cover all the policy areas, including not only the existing industrial policies but also the regulation and innovation strategies from the national economic perspective. In this paper, it is underlined that the regulation and industrial policy should be able to ensure the promotion of industrial innovations by enhancing the interactions among the economic actors. This policy direction must be reinforced by providing the differentiable policy strategies in terms of business scale, life cycle, and so on. Furthermore, it is necessary to establish the self-selective optional policy scheme that can encourage creative and autonomous industrial innovations coming from the private sector. This self-selective policy framework can work well over the policy support platform that can allow the economic actors to exchange the information, technologies, expert knowledge, consulting, etc, regardless of the positions of policy suppliers and demanders. This policy strategy is the same case in the regulation and industrial policy framework.

Keywords: industrial policy; industrial innovation; regulatory reform; innovation strategy; innovation policy; industrial innovation; autonomous innovation; knowledge acquisition; Korea; Korean policy; Korean industry (search for similar items in EconPapers)
JEL-codes: L16 L52 O14 O25 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2017-12-29
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